Business statistics

You will learn to use basic statistical techniques and apply them to problems in accounting, finance, management, marketing, and business in general. You should also be able to effectively communicate the results of your analyses. This unit covers descriptive statistics for revealing the information contained in data; probability as a tool for dealing with uncertainty; probability distributions to model business behaviour; confidence interval estimation and hypothesis testing techniques for single populations; analysis of relationships between variables using simple linear regression; and simple tools for forecasting time series data. Applications to critical analysis of business and economic data will be emphasised. Excel software will be used.

Case-based teaching - This unit includes case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.

Active learning - This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.

Problem-based learning - This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.